In this section the following words have the meanings indicated. “Historically black colleges and universities” means Bowie State University, Coppin State University, Morgan State University, and University of Maryland Eastern Shore. “Interagency agreement” means an agreement between an agency or unit of the Executive Branch of State government and a public institution of higher education that: has a duration of 3 years or more; was in place during any part of the immediately preceding fiscal year; and has a total value of more than $750,000. At least once every 3 years, the Department shall review each interagency agreement to determine: whether the agreement is necessary and should continue; whether the services can be provided more cost effectively by the agency or unit or through a competitive procurement; and whether the agreement is being utilized due to the agency’s or unit’s inability to recruit or retain positions and, if so, whether an annual salary review should be conducted to address recruitment or retention issues. The Department shall establish a cycle to review one–third of the interagency agreements each year. Subject to paragraphs (2) and (3) of this subsection, on or before December 1 each year, the Department shall report a summary of the findings of the review required under subsection (b) of this section to the Senate Budget and Taxation Committee, the House Appropriations Committee, and the Department of Legislative Services, in accordance with § 2–1257 of the State Government Article. In each report required under paragraph (1) of this subsection, the Department shall provide the following information: the interagency agreements that will continue; services that will be competitively procured; services that will be provided by the agency or unit as a result of the review; services that have been or will be canceled as a result of the review; and actions taken to address recruitment or retention issues identified as a result of the review. In each report required under paragraph (1) of this subsection, the Department shall provide information on interagency agreements with historically black colleges and universities, including: the total percentage of interagency contracts with historically black colleges and universities, by agency or unit; and any recommendations for regulatory or statutory changes necessary to address barriers to interagency agreements with historically black colleges and universities.